TOP to BOTTOM trading method
You FOUND it? Where did you "find" it?
Have you actually traded it? If so, post a chart showing your entry / exit.
You FOUND it? Where did you "find" it?Have you actually traded it? If so, post a chart showing your entry / exit.
Yeah I found it... that does not mean I trade it.. it is here for increasing the knowledge of people on how indicators can be used together in a trading system. Why you want to know the 'where'... if it was in a word doc somewhere on my hard disk.. would it matter to you? This has been posted as is, anyone wishing to try it and develop it further is welcome... otherwise, just move on.... I will leave the posting of chart setups etc to you...
Yeah I found it... that does not mean I trade it.. it is here for increasing the knowledge of people on how indicators can be used together in a trading system. Why you want to know the 'where'... if it was in a word doc somewhere on my hard disk.. would it matter to you? This has been posted as is, anyone wishing to try it and develop it further is welcome... otherwise, just move on.... I will leave the posting of chart setups etc to you...
"I recently found this little strategy which proved to be very interesting and a potential money maker as well."
You advertised it as a "potential money maker". How did you come to that conclusion? What is your conclusion based on? If I were to post that statement, you and others would be on my case especially if I didn't show proof.
You post a system that you don't trade? As a MODERATOR, some people look up to you for guidance. Posting a system that you do not trade, WITHOUT DISCLOSING THAT FACT, borders on irresponsibility.
Putting indicators together is not going to help. THE REASON YOU ENTER A TRADE DOES NOT EFFECT THE RESULTS. If you do NOT believe me, then ask MARK DOUGLAS.
The reason to know WHERE YOU FOUND IT is so people can do further research and possibly ask questions of the system designer to INCREASE THEIR KNOWLEDGE. That could be the difference between profit and loss.
You know there is no HOLY GRAIL, right?
"I recently found this little strategy which proved to be very interesting and a potential money maker as well." You advertised it as a "potential money maker". How did you come to that conclusion? What is your conclusion based on? If I were to post that statement, you and others would be on my case especially if I didn't show proof.
What does potential means to you tro? Does potential = failsafe = foolproof ?? Revise your english please.... I said this based on my experience and intuition... While it can work great for me, it can fail miserably on your side... i bet you already know this since you wrote something similar in your thread..
Firstly, as a moderator, I am only responsible for the proper running and management of the forum only. I am neither a mentor, nor a trainer, and i never claimed to be one at anytime... So, your claim of irresponsibility does not stand... I do not find any problems posting systems which I do not trade, infact, i also mentioned in quite a few of them that I do not trade these... If you browse around, you would surely come across my posts in which I said what type of trading I practice.
What if I do not believe Mark Douglas? We are all entitled to our opinions and we all respect yours as well.... lets move on.
As I said, if it was lying on a text file on my hard disk without any reference to the authors or anything... what do I do? Increasing your knowledge is more through practice and further research on the personal trading experience...
I never claimed it existed as well... whats next?
My English is fine.
YOU FAILED TO ANSWER MY QUESTIONS.
You advertised it as a "potential money maker". How did you come to that conclusion? What is your conclusion based on?
"I said this based on my experience and intuition."
What experience? Intuition?
Do want us to believe you have developed magical intuitive powers through experience to gaze at a system and see its potential?
I prefer to run statistical analysis to see if there is something to exploit profitably.
"What if I do not believe Mark Douglas? We are all entitled to our opinions and we all respect yours as well.... lets move on."
Can you distinguish between fact and opinion?
A FACT is something that actually exists; reality; truth.
A OPINION is a belief or judgment that rests on grounds insufficient to produce complete certainty.
Example: The low of the day IS the lowest price of that day. That is a fact. However calling that low SUPPORT is an OPINION.
"Firstly, as a moderator, I am only responsible for the proper running and management of the forum only. I am neither a mentor, nor a trainer, and i never claimed to be one at anytime... So, your claim of irresponsibility does not stand... I do not find any problems posting systems which I do not trade, infact, i also mentioned in quite a few of them that I do not trade these... If you browse around, you would surely come across my posts in which I said what type of trading I practice."
Time to check your English.
I said "..borders on irresponsibility."
My points have been made.
I'll let you have the last word.
Definitely, you have problem understanding some clear english man... While you accept a support point to be an OPINION, you do not accept the claim 'POTENTIAL money maker' as an opinion as well... Opinion is based on one's better judgement... he does not have to disclose all the intricate details behind his opinion in front of everyone because it is just an OPINION. If you want to put this opinion into test, then you are welcome to do so... I never stated it as a fact... else the word POTENTIAL would not be included in the phrase... is that okay? Calling a lowest low as a support is opinion, but the reasons differ for this opinion will differ for each and every trader...
Borders of irresponsibility... if you can rephrase this... how will you write it down?? ... you said what you said... and my answer still stands good...
A little note, instead of polluting this thread, we can move everything to a new thread where you can unleash yourself freely on me... if that can make you happy of course... I told you several times, I have nothing against you...
I don't see how wrong a person could be for just sharing a trading system he learned from somewhere. There's absolutely no need to disclose the whereabouts of the sources when all the indicators are publicly known.
If one is interested, s/he should google search it and do the research from there. "You are on the internet - If you (google) search for it, you'll probably find it. "
I don't think there's any claim of making profit was made. And everyone should treat every system as a "potential money maker" and a "potential money loser". Read the detailed disclaimer in the footer.
I don't see how wrong a person could be for just sharing a trading system he learned from somewhere. There's absolutely no need to disclose the whereabouts of the sources when all the indicators are publicly known.If one is interested, s/he should google search it and do the research from there. "You are on the internet - If you (google) search for it, you'll probably find it. "I don't think there's any claim of making profit was made. And everyone should treat every system as a "potential money maker" and a "potential money loser". Read the detailed disclaimer in the footer.
I can add nothing to this... very well said...
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Hello guys
I recently found this little strategy which proved to be very interesting and a potential money maker as well. The method can be used on any timeframe and pairs as well. We are going to use the classic indicators in this setup. The indicators we are going to use are the :
1. Bollinger Bands with default value
2. Parabolic SAR
3. CCI - 14
These are popular indicators which comes in most trading platforms. Set your chart accordingly then keep reading.
When to BUY
We are going to buy the currency when the following rules has been met. Make sure that each and every rule are followed to the letter.
1. Price is near or at the lower band of the bollinger bands.
2. A new bullish candle closes after a bearish candle
3. Parabolic SAR is below the price (candles)
4. CCI is going up (optional)
If all these rules are met, then we open a buy order. We set the Stoploss some distance away from the low of the most recent bearish candle. We close the position when price touches the upper band of the bollinger band or when we have a sell situation presenting itself. The we close and reverse.
Here is a screenshot of a generic buy situation given by this system.
When to SELL
We are going to sell the currency when the following rules has been met. Make sure that each and every rule are followed to the letter.
1. Price is near or at the upper band of the bollinger bands.
2. A new bearish candleforms and closes after a bullish candle
3. Parabolic SAR is above the price (candles)
4. CCI is going down (optional)
If all the rules has been met, then we open a sell order and we set the Stoploss some pips above the most recent bullish candle. We will close the position when we have a reverse signal from the system or when the price touches the lower band of the bollinger bands.
Here is a screenshot of a generic sell situation given by this method.
A piece of advice is to breakeven your trades as soon as price has moves some 20-30 pips away from your order if you are using lower timeframes, or 50pips if you are using higher timeframes. You can use the takeprofit system as detailed above but in case you have to leave your trading room, then you can use a trailing stoploss to trail your order and capture some profits.
Another idea for the takeprofit is to close part of the position each time the price hit the upper band but the method does not generate a reverse signal.. For example, we can close 50% or 25% of the position each time price reaches the opposite band and remain in the trade for the remaining of the move. In this way, we can remain longer in the trades and catch some more profit. I have labelled this as well in the screenshot above.
I think this system can easily be automated and if anyone can have some time to work on it, then it will be a good addition to our trading toolbox. As with any trading system, you should take some time to learn to adapt yourself to the system and practice for some time of a demo account before you can decide to trade on a real account. Please report back any findings or suggestions to improve the system. Thank you.